Mexican Media Brands
Fed Signals “Live Possibility” of Rate Hike in December
Federal Reserve Chair Janet Yellen tells a Congressional committee that, pending sufficiently good news about the American economy, there’s a “live possibility” the central bank will raise interest rates in December for the first time in seven years.
#economics
Share
Federal Reserve Chair Janet Yellen tells a Congressional committee that, pending sufficiently good news about the American economy, there’s a “live possibility” the central bank will raise interest rates in December for the first time in seven years.
The Fed’s key inter-bank lending rate has been at 0%-0.25% since the end of 2008. Yellen reiterates that the bank will begin to slowly raise the rate when it feels confident the American economy’s job market will continue to improve and inflation shows signs of returning to the Fed’s 2% target “over the medium term.”
If economic data supports that expectation, she says, then a December rate adjustment would be appropriate. The Fed’s policy committee will meet for the last time this year in mid-December.
RELATED CONTENT
-
Study: Border Tax, NAFTA Exit Would Hurt U.S.
The U.S. auto industry would lose at least 31,000 manufacturing jobs and 450,000 units of annual sales if the U.S. imposes 35% tariffs on cars from Mexico, as President-elect Donald Trump has vowed to do.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.